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Technology Stocks : Quantum Disk Drives (HDD)
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To: Mark Adams who wrote (153)10/4/2000 12:32:55 PM
From: Sam Citron  Read Replies (1) of 179
 
Mark,

Sorry to hear that you sold. You've had an enviable record in trading HDD, so your departure certainly raises a red flag for me, but I added to my HDD position this morning. Here's why:

1) Arbs who thought MXTR was going to be bought at $20 had to be doubly disappointed so the carnage was bound to be intense in the early hours. HDD would temporarily be tethered to a sinking ship.

2) This merger continues the very healthy consolidation trend that has been going on in this industry for a long time. It is logical to assume it will have a slightly favorable impact on margins and pricing, along with a reduction of costs (10% headcount reduction estimated over next 18 months).

3) You mentioned the possibility of merger-related problems.
While snags are a possibility in any merger, I think the cultures of these companies are very similar, hence the greater likelihood of synergistic compatibility.

4) This being October, it is historically the best time to be buying tech stocks, on a short term basis at least (~6 months).

5) I always believed this company was worth > $15 and this merger merely strengthens my belief. With all the positive developments taking place on the demand side in consumer markets and storage solution providers for petabytes of streaming media, I'm willing to hold on for the longterm.

I wish you luck in your trading, Mark. Let us know what you are buying.

Sam
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